High fees is a never ending story?

[Stompix]

If it was possible for ordinals and inscriptions to build a layer 2 blockchain that is supported by bitcoin but completely independent on the bitcoin network, this would have been a good thing to do, and sure would easy the constant mempool congestion on the bitcoin network.

Think of public transport and personal car.
You will not make people drop their car unless you tax them for one and you offer them a cheaper reliable alternative.

Why would rune and ordinals go to the second layer when this means losing their main marketing point?
By just offering an alternative and not forcing them somehow this will be always the path not taken, it will only work the other way, making normal users migrate to the l2 since they can't afford the fees. But since to migrate you need to first pay....back to square 1.

Imagine if you try to use your visa card and it won't work because someone is using their network to watch porn. Basically the same imo.

Neah, it's more like in the early days of the internet, someone torrenting in the block of flats was destroying the speed for everyone else.
Things are not like that anymore and everyone can download at 500Mbps, cause....capacity! 

I'm sure that high fees on the Bitcoin blockchain network are just a matter of time and will return to normal after some time.

Define normal!

[Gurujebs]

The fee dropped to 150sat/vb market since yesterday.



Still the fee is quite high and not suitable for smaller payments, since the spammers found a way to abuse the mempool with inscriptions, is it really possible for them to be moved to L2 layer which is the only hope right now to keep the blockchain unable for every transaction.

Sometimes I asked myself if Bitcoin that we are are clamoring to be number is even the best with this decentralization, security and scalability. We all can agreed that Bitcoin is fully decentralized but on the issue of security and scalability issues, it's debatable because why watch people send a vector spam on the mempool which reduced chance of transaction.

Another question is that why are the miners not doing anything about this attack on mempool, it seems they enjoy the fees they make from transactions that's why they haven't fix this, Bitcoin is just what it is but it's not the best if we want to be sincere enough.

[Findingnemo]

Another question is that why are the miners not doing anything about this attack on mempool, it seems they enjoy the fees they make from transactions that's why they haven't fix this, Bitcoin is just what it is but it's not the best if we want to be sincere enough.

Miners are here to make money so they just stick with their principle of prioritising TXs that pays higher fee.

If we want things to change then it should be made by the devs that should eliminate these spams transactions congesting the network and there are also some people out there who debate against doing this cause the real decentralisation means users should be allowed whatever they can.

[Aanuoluwatofunmi]

The fee dropped to 150sat/vb market since yesterday.



Still the fee is quite high and not suitable for smaller payments, since the spammers found a way to abuse the mempool with inscriptions, is it really possible for them to be moved to L2 layer which is the only hope right now to keep the blockchain unable for every transaction.

Sometimes I asked myself if Bitcoin that we are are clamoring to be number is even the best with this decentralization, security and scalability. We all can agreed that Bitcoin is fully decentralized but on the issue of security and scalability issues, it's debatable because why watch people send a vector spam on the mempool which reduced chance of transaction.

Another question is that why are the miners not doing anything about this attack on mempool, it seems they enjoy the fees they make from transactions that's why they haven't fix this, Bitcoin is just what it is but it's not the best if we want to be sincere enough.

Am not in support for ordinals, but we have to consider the challenge as a temporary one, though it has been escalating before now and it seems to be getting more worsened than before, we should expect a long and lasting solution soon as this may not be what we can encounter for life, which shouldn't also serves as barrier to how effective we are going to engage on making use of bitcoin for our daily transactions.

[Fivestar4everMVP]

Am not in support for ordinals, but we have to consider the challenge as a temporary one, though it has been escalating before now and it seems to be getting more worsened than before, we should expect a long and lasting solution soon as this may not be what we can encounter for life, which shouldn't also serves as barrier to how effective we are going to engage on making use of bitcoin for our daily transactions.

Well, to be honest with you, with all that has happened so far, I think we should just see bitcoin for what it truely and really is, which is a digital gold and a very good store of value, it no longer makes sense to consider bitcoin to be good to be  used for day to day payment for goods and services like what Satoshi envisioned initially.
Right now, I think it's clear that Bitcoin can't really win in both ways, that is, become a digital gold/a good store of value, and still be considered as a good alternative for payment for goods and service for our day to day activities.

I agree that the high fees will definitely return back to normal again some time in the future no one knows, but then, what's the guarantee that it won't happen again? None if you ask me.

[dkbit98]

The point is that they are not using money. They are storing short videos (runes) and images and in the future games.

Making transaction on blockchain IS using a money aka Bitcoin.
It doesn't really matter how and why someone is making stupid transactions like this, or what information they are trying to share with others.
I think taproot update enabled all this and there is no going back now, it would be even worse if some censorship would be applied because of this.

[Litzki1990]

As we all know Bitcoin network is facing high fee due to congestion since the last years especially from ordinals but it came back to normal then again hike and it keep on loop mode?

So this is something that we have to accept as new normal or we can still hope that Bitcoin fee will reach 1sat/vb to include our TX in the upcoming block?

I don't know why the problem of Bitcoin's excessive transaction fees does not want to end. Last night the problem of Bitcoin's excessive transaction fees may have been temporarily removed as last night we saw Mempool drop significantly lower than the previous few days. When we need to trade bitcoins we can't trade bitcoins because of the extra transaction fee problem but we miss the opportunity to trade when Mempool comes back to some normal level. Why is the problem of excessive transaction fees of Bitcoin not solved permanently? If there was a permanent solution then we could easily trade bitcoin whenever we want.

[bhadz]

As much as I don't want to accept it as a new norm for Bitcoin, it seems that we'd see more often spams on the network soon. The fees are starting to get down for now but compared to before, it's still quite high. We have to accept the fact that whenever the bull run is coming, something like this could commence. But let's all hope for the best for Bitcoin that there will be changes and the stability of Bitcoin's low fee will be the new norm next time.

[robelneo]

As much as I don't want to accept it as a new norm for Bitcoin, it seems that we'd see more often spams on the network soon. The fees are starting to get down for now but compared to before, it's still quite high. We have to accept the fact that whenever the bull run is coming, something like this could commence. But let's all hope for the best for Bitcoin that there will be changes and the stability of Bitcoin's low fee will be the new norm next time.

The gap before this was 4 months so it's going to be recurring we just don't know after it normalizes when the next disruption will be, so from now on we should have an alternative, and that includes platforms and merchants.

With this, altcoins will take the spotlight, right now my choice is USDT, Bitcoin's dominance if this continues will go down right now it is 52% because of the halving, we don't know in the coming months.

[0t3p0t]

It's now down to more or less $5 so it's good to have transaction right now as it might go back up again later on. But if the fee will continue to drop I think it would be better since that is the only way transactions will become convenient and worth it. But my transaction just recently got me I think that was more or less $15 for a small amount of Bitcoin transfer.

[Gurujebs]

It's now down to more or less $5 so it's good to have transaction right now as it might go back up again later on. But if the fee will continue to drop I think it would be better since that is the only way transactions will become convenient and worth it. But my transaction just recently got me I think that was more or less $15 for a small amount of Bitcoin transfer.

Isn't it strange that transaction just become less empty in the memory pool within yesterday or those guys just stop their attack? With this development we should have more less fees during the weekend and I hope to see my stuck transactions comes out of the mempool and be verified as soon as possible.

By the way, I want to see some relationship between how Bitcoin price and the amount miners will be able to make monthly since the halving reward has reduce by half, maybe they will continue to manipulate the mempool to suit their revenue or not.

[NikeFit_7777]

It's just awful. Now everything hangs online, no idea when the situation will be +/- better. But clearly it will not be for one week. The same problem was already at the beginning of the year, so those who are worried about it, I advise not to think about it too much. In time, everything will fall into place, it's just a matter of time. 

P.S. I also have transactions hang, so you are not the only one who has encountered this problem. 

[Stompix]

Isn't it strange that transaction just become less empty in the memory pool within yesterday or those guys just stop their attack? With this development we should have more less fees during the weekend and I hope to see my stuck transactions comes out of the mempool and be verified as soon as possible.

The weekend is always low on transactions, it has been that for years, the lowest point is usually right before the working day on Monday begins for Central Europe, that's when Asia is fully awake and back and activity starts picking up in the western part also, you can see that we dropped to 16sat/vb during that time.

Nothing new, it started to look just as road traffic, pretty predictable!

It's just awful. Now everything hangs online, no idea when the situation will be +/- better. But clearly it will not be for one week.

One week ago we had 70vMB over 10sat/vb in the mempool, now we're down to 30vMB,  assuming no spike in inscriptions even with them keeping the same pace as the week before we might touch under 10sat/vb by next weekend.

Also, there is Labour day and the Orthodox Easter so that would also put a dent in the mempool.

[SmartGold01]

The weekend is always low on transactions, it has been that for years, the lowest point is usually right before the working day on Monday begins for Central Europe, that's when Asia is fully awake and back and activity starts picking up in the western part also, you can see that we dropped to 16sat/vb during that time.

Nothing new, it started to look just as road traffic, pretty predictable!

I never come to know about this but sometimes I do noticed something like this, I don't know is real because when I do carry out transaction on weekend, like Saturday or Sunday I usually observed that network fee is always low, but from Monday to Friday I often see it very higher even without the Runes compromising the network that cause the surge of gas fee to that level it was last week.

[EthereumDev_]

The weekend is always low on transactions, it has been that for years, the lowest point is usually right before the working day on Monday begins for Central Europe, that's when Asia is fully awake and back and activity starts picking up in the western part also, you can see that we dropped to 16sat/vb during that time.

Nothing new, it started to look just as road traffic, pretty predictable!

I never come to know about this but sometimes I do noticed something like this, I don't know is real because when I do carry out transaction on weekend, like Saturday or Sunday I usually observed that network fee is always low, but from Monday to Friday I often see it very higher even without the Runes compromising the network that cause the surge of gas fee to that level it was last week.

Usually I make transactions at certain times and not using the daily method like you do. We know that humans need time to sleep and stop all their activities, so I take advantage of opportunities like that to make transactions and so far it is quite efficient because I always get transaction fees. which is quite low.